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deff fn [24]
3 years ago
15

2 Points

Mathematics
1 answer:
DIA [1.3K]3 years ago
7 0

Answer:

D. Different people look at future risks differently.

Explanation:

<em>Not everyone is committed to saving money for the future.</em> Though everyone knows how important it is to save money for retirement, <em>not all people can do it.</em> It is easier said than done. This is because "different people look at future risks differently."

Some people may constantly think about how they will become penniless if they stop working when they get older and this kind of thinking allows them to save money. On the contrary, other people would like to keep up with their lifestyle thus, cutting on saving for retirement. Most of the time, these people need to work until they grow older because they haven't saved enough money for their future.

Thus, this explains the answer.

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If $1,000 is invested at 4% simple interest, how much will the investment be worth after 2 years? Please explain how compound an
Novay_Z [31]
<h3>Answer:</h3>
  • simple interest: $1080.00
  • compounded annually: $1081.60
<h3>Step-by-step explanation:</h3>

<em>Simple Interest</em>

Simple interest is computed on the principal amount only. Each year, 4% of the principal is added to the balance. So, at the end of 2 years, the balance is ...

... $1000 + 0.04×$1000 + 0.04×$1000

... = $1000×(1 + 0.04×2) = $1000×1.08

... = $1080.00

_____

<em>Comment on the computation</em>

The added interest is the rate (per year) multiplied by the number of years. Here, that is 0.04×2×(principal amount). The formula for the simple interest earned is often seen as ...

... I = Prt . . . . . where I is the amount of interest, P is the principal amount, r is the interest rate for the time period, t is the number of time periods.

The account balance (A) with interest added is ...

... A = P + I = P + Prt

... A = P(1 +rt)

Here, the time period is years, and the rate given is an annual rate.

____

<em>Compound Interest</em>

Compound interest is computed on the <em>account balance</em> at the beginning of the period, not just the <em>principal</em> amount. After the first period, the account balance includes interest earned so far. So, the interest is earning interest. That is why it is called compounded interest.

Here, the balance at the end of the first year is the principal amount plus the interest that has earned:

... $1000 + 0.04×$1000 = $1000×1.04 = $1040.00

The balance at the end of the second year when the interest is compounded is this account balance plus the interest it earns:

... $1040 + 0.04×$1040 = $1040×1.04 = $1081.60

You may notice that the intial principal, $1000, has been multiplied by the factor 1.04 twice. Using exponents, the multiplier for a period of 2 years is 1.04×1.04 = 1.04².

_____

<em>Comment on the computation</em>

The multiplier of the account balance each year is raised to a power that is the number of years. Here, the account balance at the end of 2 years is (1+0.04)² times the principal amount. A formula that is seen for this is ...

... A = P(1 +r)^t . . . . . where A is the final account balance, P is the principal amount, r is the interest rate for the time period, and t is the number of time periods.

7 0
3 years ago
Where should she place the top-left corner of the left-most plaque? 9feet high 11 feet wide 6in of space 2 wide
labwork [276]

Answer:

78

Step-by-step explanation:

8 0
3 years ago
Please help!!! Find the value of the variable and the measures of the angles.
e-lub [12.9K]

Answer:

x= 38°

<P = 57°

<R = 38

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5 0
1 year ago
A sandwich store charges $20 to have three turkey subs delivered and $26 to have four delivered. How much does the store charge
sweet [91]
$6 per turkey and $2 delivery fee. Do da math.
7 0
3 years ago
Find the product: (30 gallons 3 quarts 1 pint) × 5
maks197457 [2]

Answer:

Please mark me brainliest!!!!!!!

Step-by-step explanation:

Step 1:

Multiply each by 5, then make any necessary conversions to the other units of measurement (ie. gallon, quart, etc)

30 gallons x 5= 150 gallons

3 quarts x 5= 15 quarts

1 pint x 5= 5 pints

Step 2:

CONVERSION

1 gallon=4 quarts

1 gallon= 8 pints

1 quart= 2 pints

GALLONS: 150 gallons

QUARTS:

=15 quarts ÷ # quarts in gallon

=15/4= 3 gallons 3 quarts

PINTS:

=5 pints ÷ # pints in quart

=5/2= 2 quarts 1 pints

TOTALS:

150 gallons

3 gallons 3 quarts

2 quarts 1 pint

Since we have 5 additional quarts, and we know that 4 quarts=1 gallon, we need to convert again.

=3 quarts + 2 quarts

=5 quarts ÷ # quarts in gallon

=5/4 = 1 gallon 1 quart

FINAL TOTALS

GALLONS: 150 + 3 + 1= 154 gallons

QUARTS: 1 quart

PINTS: 1 pints

4 0
2 years ago
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